Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) Plans Quarterly Dividend of $0.14

Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) announced a quarterly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Friday, July 12th will be given a dividend of 0.14 per share on Friday, July 26th. This represents a $0.56 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Friday, July 12th.

Caledonia Mining has raised its dividend by an average of 18.7% annually over the last three years. Caledonia Mining has a dividend payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings.

Caledonia Mining Stock Performance

CMCL traded up $0.43 during trading on Tuesday, hitting $9.92. 32,515 shares of the company’s stock were exchanged, compared to its average volume of 49,968. The company has a market cap of $127.27 million, a price-to-earnings ratio of 141.71 and a beta of 0.69. Caledonia Mining has a fifty-two week low of $8.91 and a fifty-two week high of $13.55. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 0.02.

Caledonia Mining (NYSEAMERICAN:CMCL) last released its quarterly earnings results on Monday, May 13th. The company reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $38.53 million during the quarter. Caledonia Mining had a return on equity of 7.95% and a net margin of 1.91%.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald upgraded Caledonia Mining from a “hold” rating to a “speculative buy” rating and set a $13.50 price objective on the stock in a research note on Monday, April 29th.

About Caledonia Mining

Caledonia Mining Corporation Plc primarily operates a gold mine. It also engages in the exploration and development of mineral properties for precious metals. The company holds a 64% interest in the Blanket Mine, a gold mine located in Zimbabwe. It also owns 100% interests in the Maligreen project, a brownfield gold exploration project located in the Gweru mining district in the Zimbabwe Midlands; the Bilboes, a gold deposit located to the north of Bulawayo, Zimbabwe; and the Motapa, a gold exploration property located in Southern Zimbabwe.